@Jay Hinrichs, I think @Tyler Jahnke is learning on the fly and thanks to you and others he is more informed and has a good deal of information to make an informed decision. 

This post does not create a CPA-Client relationship.

They can inform you of the process and the chances of your proposed use getting approved by P&Z and/or City Council.

I’ve been meaning to write a blog post on how to do it - I’ll eventually get around to doing it.

@Mary Parsek you are pretty close with this forum but I would suggest posting this in the "Mortgage Notes" forums.  

I am considering purchasing empty lots priced roughly $10-15K below market value.My plan is to offer owner financing for the land.These lots have water, drainage, and electric connections available, and mobile homes are permitted.The area is experiencing significant development, with the lots surrounded by new single-family homes.I would really appreciate any advice, feedback, or suggestions.Thank you It would help if you shared what you plan to buy them for other than just saying they’re 10 k to 15 K below market.List Price: $55KMy Offer: $45KPlanned Value Add:Install fenceBuild drivewayCreate a mobile home padExit Strategy:Sell via owner financingConsidering the option of adding a mobile home as wellIf you like this post, please consider voting!  

@tom shallcross summarized this well in another post and just inflate your numbers up for a $665k purchase price and $2300/mo per unit for rent.Borrow 80% which is like $3700/mo for Principal, Interest, Taxes, and Insurance.

Just saw your post.

Again check to verify that this information is correct.

-Doesn't want to use one agent-Thinks agents just use Zillow and open doors-Wants off-market deals under 10% market price despite insulting same agent and wanting to use multiple at the same time-But no rush to buy, no timeline-Also open to multiple types of homes and within a few hour radiusI am sure you won't like my post but I like being honest on here.